Last week’s private placement by the Finance Minister of $725 million in bonds has an implied 6-month yield of 9.18%, calculates Concorde Capital

Last week’s private placement by the Finance Minister of $725 million in bonds has an implied 6-month yield of 9.18%, calculates Concorde Capital. “The placement yield by far exceeds the market yield” of two bond sales last week – 6.25% and 5.95%, writes Concorde’s Alexander Paraschiy. “In this way, MinFin is indirectly stimulating the Cabinet to finalize a deal with the IMF…by showing the consequences of failing to conclude a deal. That said, we continue to expect Ukraine will agree on all its outstanding issues with the IMF in September.”